Welcome to our Louisville Real Estate Update! This monthly post includes Louisville home sales and Louisville home price data divided up by our Greater Louisville Association of Realtors (GLAR) MLS areas. Just click on the map to see a larger version of which parts of Louisville each MLS contains.
The prices just keep moving higher in certain parts of our city. When looking at the trend-line values for this February and compare it with 12 months ago, Areas 2 (Highlands), 6 (Okolona), 7 (Jeffersontown) and 9 (Prospect) performed very well. Most of the other areas in our monthly report are showing improving prices, just less so.
Sales are good as well, especially for a February. The biggest winner here is obviously Area 6 (Okolona) where more modestly priced homes are flying off the shelves. Area 2 also performed splendidly, with a lot of sales activity.
It is nice to report that there were no obvious “losers” this month.
Louisville Real Estate Update (period ending February 2016)
Here’s our star! With 144 homes sold during February, that’s a great deal of activity in our Okolona (and surrounding areas) MLS area. It’s true, lower priced homes sell more frequently but we’re comparing apples to apples. It’s looking quite good for real estate in this part of Louisville.
Home sales in this part of Louisville continue to just barely surpass the previous year. We should take the small victories where we can find them. Home prices, however, are stagnant. The trend-line value for February is $258,216, just 1.5% higher than one year ago, which isn’t near our traditional 4% yearly appreciation average.
February was not kind to Prospect real estate with both metrics coming up short. Prices dipping during the off season isn’t huge concern but with the rest of Louisville improving sales in 2016, why not here?
Our other Louisville real estate update reports for the remaining MLS areas are updated each quarter. The following were completed through Q4 of 2015.
- Area 0: Central Downtown District, Old Louisville Homes
- Area 1: Downtown, Old Louisville, West Louisville Homes
- Area 4: Pleasure Ridge, Valley Station, Shively Homes
- Area 5: Auburndale, Fairdale, Iroquois Park, Shively Homes
- Area 11: Bullitt County Homes
- Area 19: Spencer County Homes
- Area 30: Shelby County Homes